Millennials. They speak their own language, have unique expectations, and are causing companies to completely change the ways they’ve done things since the beginning of time. Physicians’ offices, just like every other industry, are quickly discovering that, to be successful in this new era, they’re going to have to make adjustments that cater to this incoming consumer takeover.
In the second quarter of 2014, Nielsen uncovered the facts about Millennials, each of which is becoming a catalyst for change in today’s economy:
- There are around 77 million Millennials in the United States, making this group one of the largest population segments in the United States.
- Millennials are the largest segment of smartphone users. In 2014, around 85% of people aged 18-24 and 86% of those aged 25-34 owned smartphones, a number which has surely only increased since then.
- Men and women in the U.S. own smartphones nearly equally, with around 71% of men and women owning these devices as of the 2014 study.
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With so much information at Millennials’ fingertips, you’re missing out if you’re not embracing change with open arms.
Ready to make the leap toward a more Millennial-friendly medical billing process? Here are some key elements you’ll want to be sure to incorporate:
Access All Day, Anywhere:
The importance of creating mobile-friendly billing can’t be stressed enough. Millennials were born with smart phones and tablets in their hands. Paper billing statements may not even be opened by this generation of patients. They’ve grown up with 24/7 access to any type of information they could possibly want, which means their cell phones and computers are also the primary place they go to pay bills.
An online patient portal is essential, and without it, you’re probably losing out on some non-Millennial patients, too. If you’re really looking for a communication key that will unlock the attention of Millennials, create an app. In fact, 71% of Millennials would like their doctor to use a mobile app, according to salesforce.com. Shoot for a breezy user experience where your cell phone-wielding patients can easily point, swipe, photograph, and pay at their own convenience.
When it comes to medical billing and Millennials, convenience is key, and your facility must capitalize on today’s technology to win over this less-than-loyal group of patients. The more hassle (perceived or real) Millennials have to go through to be your patient, including paying the bill, the less likely they are to return to your establishment.
Patient Reminders They’ll Pay Attention To:
What’s the quickest way to derail your Millennial patients’ patience? Call and leave them voicemails. Today’s generation isn’t interested in phone calls and traditional voicemails. If you want to send reminders about their appointments or let them know their payments are due, you have to reach out to them in the manner in which they communicate. For these patients, it’s an electronic world, which means you’ll be most successful by digitizing your messages by way of emails and text messages.
As Millennials have begun to take over the market, businesses must quickly adjust. Before you find yourself in billing conundrums that result from doing things the way you’ve always done them, take a step back, and evaluate your current processes and procedures. This new era of patients and consumers is ushering change unlike anything the world’s ever seen, and if you want your RCM to be successful, you’ll probably need to make some tweaks and alterations to your current medical billing processes.
https://www.entrepreneur.com/article/250834 http://www.nielsen.com/us/en/insights/news/2014/mobile-millennials-over-85-percent-of-generation-y-owns-smartphones.html http://info.eliteps.com/elitepsblog/remaking-patient-financial-communication-to-fit-millennials https://www.salesforce.com/blog/2015/02/the-state-of-the-connected-patient-2015-infogrpahic.html